Sam Bankman-Fried’s parents are trying to secure a presidential pardon for their son from Donald Trump. Joseph Bankman and Barbara Fried, both law professors at Stanford, have met with lawyers and Trump administration members to discuss this matter.
Their son is currently serving a 25-year prison sentence after being convicted of fraud. He was sentenced in March 2023, following the bankruptcy of his cryptocurrency platform, FTX, in 2022.
This effort for clemency comes after Trump previously pardoned Ross Ulbricht, the creator of Silk Road, during his first week in office. Trump had promised to release Ulbricht if re-elected. Bankman-Fried has described his sentence as “draconian,” even though most FTX customers have recovered their funds. Reports indicate that FTX plans to start repaying customers in early January.
In the case of FTX executives, Gary Wang, a co-founder, received a sentence of time served and avoided prison. Nishad Singh, another former executive, also escaped a prison sentence. However, Caroline Ellison, the former CEO of Alameda Research, which is linked to FTX, was sentenced to 24 months in prison in September.
Recently, Roger Ver, an early Bitcoin investor, reached out to Trump via a video message on social media. He is facing a potential prison sentence of up to 109 years and is asking for Trump’s help.
